Jay-Z’s got 99 problems, but being chief brand strategist isn’t one of them. Earlier this week, Shawn “Jay-Z” Carter announced he would be entering the cannabis industry with California brand, Caliva.
This industry has been in the news and on the rise over the past year. The global recreational cannabis market is expected to reach $31 billion by the year 2021.
Caliva plans to use Carter to help influence their creative direction and work with outreach programs, creating opportunities for those who have been negatively affected by the war on drugs in the past and wish to reenter the workforce.
Both partners are excited to work together and expand the company. Of all the cannabis firms out there, Carter believes Caliva’s “expertise and ethos makes them the best partner for this endeavor.” While well known for his music, the rapper is no rookie in the business department. He has founded and been involved with a variety of other companies. It will be interesting to see how Jay-Z tackles this booming industry.
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